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Physical rubber prices gain strength on Wednesday

22 Mar 2012 Evaluate

Physical rubber prices extended their gains on Wednesday on speculative buying and short covering. Though, the transaction remained dull amid inactiveness of the major manufacturers but the firmness in domestic and international futures aided to the gains.

Spot prices for RSS-4 variety closed at Rs 197.50/kg compared to its previous closing of Rs 196/kg; while the RSS-5 variety closed at Rs 196/kg compared to its previous closing of Rs 194/kg.

In the futures market, the contract for RSS-4 for April delivery closed at Rs 200.82 compared to its previous closing of Rs 200.32, while the contract for May delivery closed at Rs 205.50 compared to its previous closing of Rs 204.99 on the National Multi Commodity Exchange.

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